Hyliion Signs Letter of Intent with Al Khorayef for Sustainable Energy Solutions in Saudi Arabia

The newly signed non-binding Letter of Intent (LOI) outlines plans for Hyliion to deliver up to twelve 200 kW KARNO™ generator units to Saudi Arabia. These generators are intended for deployment in agricultural applications, a sector that increasingly requires reliable and sustainable energy sources. This initiative aligns with Saudi Arabia's Vision 2030, which emphasizes sustainability, pollution reduction, and enhanced food security.

Hyliion's KARNO generators are engineered to operate primarily on liquefied petroleum gas (LPG) and natural gas, offering flexibility to utilize other fuels in the future. Key features of the KARNO generators include:

The adaptability of these generators makes them particularly suitable for remote areas where traditional grid power is often unavailable or unreliable, thus addressing a critical need in agricultural operations.

Mr. Mohamed bin Alkhorayef, CEO of Al Khorayef Group, emphasized the importance of innovative energy solutions for the agricultural sector. He stated, “The agricultural sector requires innovative energy solutions that not only meet its unique operational demands but also support sustainability and growth.” This partnership with Hyliion is seen as a step towards transforming energy resources into tools for progress.

Thomas Healy, Founder and CEO of Hyliion, echoed this sentiment, expressing excitement about the collaboration. He remarked, “Meeting the energy demands of agriculture in remote and challenging locations requires innovative and efficient solutions.” Healy highlighted the potential of the KARNO generators to support food security and economic growth through sustainable energy technologies.

Founded in 1957, Al Khorayef Group has a rich history of delivering innovative solutions across various sectors, including agriculture and energy. With operations spanning over 40 countries, the group’s Gulf Power brand is recognized for its leadership in the power generation market. Al Khorayef's commitment to advancing sustainability and fostering economic growth aligns perfectly with the goals of the collaboration with Hyliion.

While the LOI marks an important step in this partnership, it is subject to the execution of a binding purchase agreement. Both companies are enthusiastic about not only deploying the KARNO generators but also exploring broader applications for these sustainable energy solutions within the regional power generation market.

Hyliion is dedicated to creating innovative solutions that enable clean, flexible, and affordable electricity production. This partnership with Al Khorayef is a testament to Hyliion's strategic focus on sustainability and their commitment to addressing the evolving needs of the energy economy.

For more information about Hyliion and their innovative electrification solutions, interested parties can visit www.hyliion.com.

The partnership between Hyliion Holdings Corporation and Al Khorayef Group signifies a promising advancement in sustainable energy solutions for agriculture in Saudi Arabia. As both companies aim to contribute to the Vision 2030 goals, the deployment of the KARNO generators could potentially reshape the energy landscape in the region, enhancing both food security and economic development.